Crude heads higher; natural-gas futures fall in early trade

SAN FRANCISCO (MarketWatch) -- August crude was up 22 cents at $70.55 a barrel in early trading, extending strength from the previous session as traders digested a smaller-than-expected rise in U.S. gasoline inventories and eyed developments in Iran. July natural gas was down 6.8 cents at $6.52 per million British thermal units, ahead of a weekly update due shortly from the Energy Department on supplies. Analysts at Global Insight expect the data to show an increase of 74 billion cubic feet for the week ended June 16.

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